SmartBillions is the first fully decentralized and transparent lottery managed by an Ethereum smart contract. All bets and results are public and recorded on the Ethereum blockchain without 3rd party involvement.
The recently-revealed SmartBillions PLAY tokens offering is a unique and secure investment opportunity. Finally, there’s the transparent “ICO” whereby Investors and their funds are protected like never before.
The SmartBillions PLAY token sales (“ICO”) goal is set at 200 000 ETH.
Here’s a quick summary of the upcoming ICO key features of the groundbreaking global lottery (est. Jackport 2.5 billion USD).
Token Allocation
* Crowdsale backers will receive 79.37 % of all PLAY Tokens issued
* The development team will receive 20.63 % of all PLAY Tokens issued
* Tokens will be sent to the Crowdsale backers immediately receiving their funds
* 1 PLAY Token = 0.001 ETH
2. Funds allocation
* 90 % of the raised sum will be allocated to the Jackpot.
* 10 % of the raised sum will be send to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.
3. Funds management
All funds are under smart contract administration and fund distribution rules are unalterable. The funds management scheme is presented below.
SmartBillions smart contract funds management:
A. Prior to the ICO:
* Prior to the ICO, there are no funds stored in the smart contract. Exactly 14 days before the ICO is initialized, the development team will put 1 500 ETH into the smart contract to fund the Hackathon prize.
B. During the ICO
* Over the course of the ICO, the smart contract will collect ETH from Crowdsale backers, with 90 % of the sum remaining in the smart contract.
* 10 % of the raised sum will be send to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.
C. After the ICO
* Income from the ticket sales will be retained by the smart contract.
* Prizes will be paid to the lottery winners via the smart contract
* Token holders will receive dividends every month, 5 % of the value of the ticket sales every month will be assigned to the dividend fund.
* Affiliates will receive 1 % from the ticket sales from the players using their affiliate links.
* The development team will be allowed to withdraw 0.25 % of the Jackpot value every week for the marketing purposes. This is possible only if the overall Jackpot value is larger than the combined liabilities of potential redemptions of all PLAY Tokens in circulation as well as current unpaid lottery winnings
4. Dividend payouts.
* Token holders will receive a dividend every 16 384 Ethereum blocks (approx. 1 month apart). A fixed 5 % of all lottery income coming from ticket sales is unchangeably allocated to the dividend payout.
* Payouts will be made directly from the smart contract balance, which is inaccessible to any of the parties. Ticket sale revenues, and th smart contract balance, are public and cannot be modified by any third party. Nobody can influence the dividend payout or its value.
5. Downside protection — Token redemption possibility
Any time after the PLAY Token sale is complete, holders may redeem their Tokens and receive the majority of their invested funds back. Token holders will receive 71,43 % of the invested funds back if they redeem their Tokens. This feature reduces investors’ risk to a minimum in the event that the lottery’s performance falls below expectations or any unexpected events affect the lottery.
6. Contract security — Hackathon
Exactly 14 days before the initial PLAY Token sales offering, the SmartBillions development team will allocate 1500 ETH to the Jackpot as a reward to anyone who proves they can hack the smart contract and withdraw the funds. This own-risk solution will indisputably validate the contract’s security.
7. Lottery ticket sales — Distribution of funds
Between 94% and 95% of Ticket sales revenue will go directly toward the Jackpot. Another 5% is designated for PLAY Token holders’ dividend payments and the remaining amount (up to 1%) will go toward compensating the lottery’s affiliates.
All the presented features summed up together prove the high value of the SmartBillions investment.
For the SmartBillions lottery ICO, the funds’ allocation to the Jackpot is crucial. The Jackpot value is the key to the Lottery success, and in the case of SmartBillions, 90 % of funds raised is allocated to the Jackpot. Only 10 % of the raised funds will be accessible to the Development Team. These funds will be spent on marketing activities aimed and driving interest and excitement upon potential users of the SmartBillions lottery. The Tokens allocation is fair and favourable for investors, as they will receive almost 80% of the Tokens issued.
When it comes to the smart contract itself, its most important aspect is its complex self-amending mode of operation. The funds are under smart contract management with no possibility for access by a 3rd party. The project is independent and there are no circumstances that would allow any member of the development team to use the funds contrary to their purpose.
Because the Dividend value depends on the (publicly disclosed) Ticket sales revenue, there’s no risk that the dividend value or the payment itself can be influenced by any party. Dividend payouts are transparent and the whole process is managed by the Ethereum smart contract. There is no technical risk that the Dividend payouts will be influenced by any party and in any way.
The SmartBillions Team was very serious about guaranteeing Investor protection.
The most important aspect of the project’s security is that the securing of the funds within the smart contract. No party will be ever able to access the funds. It is the smart contract that manages the funds — the rules are set and cannot be changed. This guarantees that the funds will be allocated only in accordance with the predefined rules detailed in the Whitepaper. There’s no risk that the funds can spent in any manner that violates the rules.
The Smart contract will be proven 100% secure during the hackathon, which will commence 14 days before the start of the PLAY tokens offering (“ICO”). This is the first time in history a Hackathon will be held with the aim of proving the self-amending smart contract quality and security. As we can see, the development team is so confident about their product and its security that they will risk their own funds to demonstrate its safety. The success of the Hackathon will prove the smart contract’s stability and security. At the same time, it will indisputably guarantee that the investors funds are to be protected in full.
The possibility to redeem tokens is another revolutionary feature introduced by the SmartBillions lottery project. This feature allows Token holders to redeem Tokens and receive most of the invested funds back any time after the end of the PLAY tokens offering. This is another strong and unalterable guarantee for the Investors that their funds are comprehensively protected. If the lottery performance doesn’t match the Investors’ expectations or there are unforeseen circumstances that affect the lottery, Investors can redeem their Tokens at any time, receiving the majority of their invested ETH. It’s the first time an entire party of Investors and all their funds are protected on such scale.
The distribution of funds from the SmartBillions ticket sales guarantees Jackpot growth over time, which will drive the lottery’s popularity up and attract more players. The Jackpot’s growth over time is guaranteed by the house-edge-to-ticket-sales-revenue-distribution ratio. The house edge is set at 13.85 %, so 86.15 % of the Ticket sales revenue will be paid to the players as prizes, while 94–95 % of the tickets sales revenue goes to the Jackpot. This guarantees steady Jackpot growth over time and rising lottery popularity.
The innovative character of both the SmartBillions lottery product and the process of the PLAY Tokens offering creates a secure investment framework never before seen in any “ICO” or token offering projects.
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